Merced VA Loans

MERCED, CA

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Merced's 99 lenders originated 712 VA loans during 2021. The total origination value was $227,850,000, with an average VA loan value of $320,014.

    Merced VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Merced averaged 6.61% for the week of 2022-09-23, compared to the national average (all VA variants) of 5.992% for the same period.

    The average rate for the prior week (2022-09-16) was 5.96% and one month ago for the week of 2022-08-19, the average rate was 5.52%.

    The average rate one year ago was 3.23%.

    For refis of the same type during the week of 2022-09-23, the average rate was 6.36%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Merced VA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Merced level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    FREEDOM MORTGAGE CORPORATION 69 2.47% $3,595
    QUICKEN LOANS, LLC 48 2.46% $5,420
    Mortgage Research Center, LLC 45 2.89% $8,155
    PENNYMAC LOAN SERVICES, LLC 33 2.39% $4,705
    UNITED WHOLESALE MORTGAGE, LLC 32 2.44% $6,022
    DHI MORTGAGE COMPANY, LTD. 25 2.74% $10,091
    AMERICAN FINANCIAL NETWORK, INC. 23 2.64% $13,021
    VILLAGE CAPITAL MORTGAGE 21 2.18% $3,345
    NEW DAY FINANCIAL, LLC 20 2.84% $10,972
    LOANDEPOT.COM, LLC 17 2.51% $4,917
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 13 3.03% $8,243
    CROSSCOUNTRY MORTGAGE, LLC 13 2.73% $6,948
    CLEARPATH LENDING 13 2.33% $4,442
    AMERICAN PACIFIC MORTGAGE CORPORATION 12 2.98% $4,985
    Mr. Cooper ( Nationstar Mortgage ) 9 2.67% $7,376
    ENVOY MORTGAGE, LTD 9 2.93% $7,745
    CALIBER HOME LOANS, INC. 9 2.42% $5,514
    USAA Federal Savings Bank 9 2.83% $4,007
    The Federal Savings Bank 8 2.58% $7,716
    Wells Fargo Bank 8 2.56% $4,786
    SUMMIT FUNDING, INC. 8 2.84% $12,090
    PRIMARY RESIDENTIAL MORTGAGE, INC. 7 3.05% $4,350
    INSPIRE HOME LOANS INC. 7 2.98% $7,989
    HOME POINT FINANCIAL CORPORATION 7 2.30% $6,386
    LOANPAL, LLC 6 2.44% $8,058
    LAKEVIEW LOAN SERVICING, LLC 6 2.35% $3,560
    SUN WEST MORTGAGE COMPANY, INC. 6 2.69% $5,361
    FINANCE OF AMERICA MORTGAGE LLC 5 2.58% $6,328
    GUILD MORTGAGE COMPANY 5 2.78% $5,823
    NAVY FEDERAL CREDIT UNION 5 2.33% $6,591
    U.S. Bank 5 2.65% $7,031
    Lakeview Community Capital, LLC 5 2.43% $1,642
    AMERISAVE MORTGAGE CORPORATION 4 2.47% $7,325
    Nations Lending Corporation 4 2.41% $942
    InterContinental Capital Group, Inc 4 2.25% $2,819
    SCENIC OAKS FUNDING, INC. 3 2.79% $7,772
    CELEBRITY HOME LOANS, LLC 3 2.92% $6,832
    RESIDENTIAL BANCORP. 3 3.17% $14,881
    ALAMEDA MORTGAGE CORPORATION 3 2.90% $10,495
    BROKER SOLUTIONS, INC. 3 2.45% $6,464
    Prime Choice Funding Inc. 3 2.42% $2,886
    PLANET HOME LENDING, LLC 3 3.00% $3,700
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 3.00% $5,427
    NEWREZ LLC 3 2.25% $2,633
    MOVEMENT MORTGAGE, LLC 3 3.13% $12,501
    Magnolia Bank 3 2.38% $12,056
    Carrington Mortgage Services, LLC 3 3.75% $8,513
    First Federal Bank 3 3.17% $19,799
    First Federal Bank of Kansas City 2 2.69% $2,643
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 3.00% $958
    BNC National Bank 2 2.25% $7,413
    ACADEMY MORTGAGE CORPORATION 2 2.63% $22,306
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 2.50% $2,724
    Barrington Bank & Trust Company, N.A. 2 3.06% $3,879
    GUARANTEED RATE, INC. 2 2.38% $2,549
    North American Savings Bank, F.S.B. 2 2.25% $4,053
    Low VA Rates, LLC 2 2.25% $5,697
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 2 2.81% $9,592
    Commerce Home Mortgage, Inc. 2 2.50% $5,941
    WESTERN EXPRESS LENDING 1 3.00% $11,925
    AHL FUNDING 1 3.13% $8,280
    AMERICAN FINANCING CORPORATION 1 2.38% $2,477
    Amerifirst Financial, Inc. 1 2.25% $1,776
    Ameris Bank 1 2.63% $3,669
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.38% $1,201
    Austin Capital Bank SSB 1 3.75% $12,470
    AXIA FINANCIAL, LLC 1 2.75% $10,802
    CHURCHILL MORTGAGE CORPORATION 1 2.25% $2,759
    CMG MORTGAGE, INC. 1 2.75% $3,317
    Community First National Bank 1 2.25% $2,363
    CONTOUR MORTGAGE CORPORATION 1 2.63% $8,923
    COUNTRY CLUB MORTGAGE, INC. 1 2.88% $3,717
    FBC MORTGAGE, LLC 1 2.75% $15,177
    FirstBank 1 2.25% $611
    First Guaranty Mortgage Corporation 1 2.75% $3,780
    First Savings Bank 1 2.25% $3,618
    Flagstar Bank, FSB 1 2.38% $1,790
    Goldwater Bank, N.A. 1 2.25% $1,388
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.50% $2,418
    Home Mortgage Alliance Corp 1 1.99% $1,533
    LADERA LENDING, INC. 1 2.63% $2,994
    LAND HOME FINANCIAL SERVICES, INC. 1 2.25% $7,670
    LENDUS, LLC 1 2.25% $9,894
    MERCO Credit Union 1 2.25% $7,574
    MORTGAGEONE, INC. 1 3.13% $4,123
    NATIONS DIRECT MORTGAGE, LLC 1 3.75% $8,767
    NBKC BANK 1 2.25% $977
    OCMBC, INC. 1 3.25% $4,444
    Paramount Residential Mortgage Group, Inc. 1 2.50% $2,179
    PENTAGON FEDERAL CREDIT UNION 1 2.25% $1,585
    PLAZA HOME MORTGAGE, INC. 1 2.25% $1,257
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.63% $3,298
    Prosperity Home Mortgage, LLC 1 2.25% $1,951
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 3.25% $8,480
    S1L, Inc. 1 2.88% $5,803
    SOVEREIGN LENDING GROUP INCORPORATED 1 2.25% $4,129
    S&S Financial 1 2.25% $1,065
    TRAVIS CREDIT UNION 1 3.38% $3,123
    UNITED SECURITY FINANCIAL CORP 1 2.25% $820

    The top Merced VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 69 VA loans originated. Their average total fees are $3,595, which is $1,826 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Merced VA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($3,345), FREEDOM MORTGAGE CORPORATION ($3,595), CLEARPATH LENDING ($4,442), PENNYMAC LOAN SERVICES, LLC ($4,705) and LOANDEPOT.COM, LLC ($4,917).

    The lowest rate Merced VA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (2.18%), CLEARPATH LENDING (2.33%), PENNYMAC LOAN SERVICES, LLC (2.39%), UNITED WHOLESALE MORTGAGE, LLC (2.44%) and QUICKEN LOANS, LLC (2.46%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Merced (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $299,750 (6.7%) $348,384 (4.7%) 1.10 673
    2018-02-01 $299,450 (7.1%) $351,498 (-29.5%) 1.08 644
    2018-03-01 $298,000 (9.3%) $348,337 (6.4%) 1.03 632
    2018-04-01 $295,000 (5.4%) $345,700 (3.0%) 0.99 651
    2018-05-01 $299,975 (5.6%) $361,921 (2.5%) 1.00 629
    2018-06-01 $309,655 (7.0%) $372,763 (2.9%) 1.03 633
    2018-07-01 $309,000 (4.8%) $372,069 (3.9%) 1.03 684
    2018-08-01 $316,000 (9.0%) $373,431 (8.2%) 1.06 736
    2018-09-01 $310,000 (5.1%) $361,760 (2.4%) 1.04 778
    2018-10-01 $309,500 (4.9%) $378,716 (8.1%) 1.04 844
    2018-11-01 $302,000 (0.7%) $355,079 (1.5%) 1.01 881
    2018-12-01 $301,192 (-1.8%) $355,951 (2.0%) 1.03 896
    2019-01-01 $302,996 (1.1%) $362,043 (3.9%) 1.04 853
    2019-02-01 $307,300 (2.6%) $357,173 (1.6%) 1.03 886
    2019-03-01 $314,557 (5.6%) $371,502 (6.7%) 1.03 854
    2019-04-01 $323,257 (9.6%) $388,859 (12.5%) 1.02 833
    2019-05-01 $329,450 (9.8%) $399,341 (10.3%) 1.02 880
    2019-06-01 $330,000 (6.6%) $403,142 (8.2%) 1.02 927
    2019-07-01 $339,450 (9.9%) $414,292 (11.4%) 1.05 932
    2019-08-01 $334,628 (5.9%) $410,162 (9.8%) 1.05 897
    2019-09-01 $328,750 (6.1%) $408,228 (12.8%) 1.04 839
    2019-10-01 $325,000 (5.0%) $405,489 (7.1%) 1.04 842
    2019-11-01 $324,900 (7.6%) $399,255 (12.4%) 1.05 747
    2019-12-01 $320,000 (6.2%) $393,235 (10.5%) 1.07 718
    2020-01-01 $317,450 (4.8%) $384,270 (6.1%) 1.06 665
    2020-02-01 $345,000 (12.3%) $403,776 (13.1%) 1.11 605
    2020-03-01 $354,900 (12.8%) $396,166 (6.6%) 1.11 584
    2020-04-01 $355,295 (9.9%) $391,626 (0.7%) 1.11 605
    2020-05-01 $350,000 (6.2%) $755,692 (89.2%) 1.06 634
    2020-06-01 $354,000 (7.3%) $403,810 (0.2%) 1.03 524
    2020-07-01 $349,444 (2.9%) $576,337 (39.1%) 1.00 420
    2020-08-01 $350,000 (4.6%) $565,848 (38.0%) 1.00 305
    2020-09-01 $342,500 (4.2%) $568,442 (39.3%) 0.98 283
    2020-10-01 $345,000 (6.2%) $559,351 (37.9%) 0.99 310
    2020-11-01 $347,500 (7.0%) $543,324 (36.1%) 1.00 365
    2020-12-01 $382,903 (19.7%) $615,655 (56.6%) 1.12 293
    2021-01-01 $395,000 (24.4%) $646,850 (68.3%) 1.16 254
    2021-02-01 $382,000 (10.7%) $709,279 (75.7%) 1.10 206
    2021-03-01 $387,225 (9.1%) $726,118 (83.3%) 1.09 197
    2021-04-01 $377,450 (6.2%) $701,725 (79.2%) 1.01 188
    2021-05-01 $375,000 (7.1%) $669,054 (-11.5%) 0.99 198
    2021-06-01 $387,450 (9.5%) $643,376 (59.3%) 1.01 230
    2021-07-01 $385,200 (10.2%) $631,209 (9.5%) 1.00 269
    2021-08-01 $399,000 (14.0%) $628,610 (11.1%) 1.05 287
    2021-09-01 $403,265 (17.7%) $626,513 (10.2%) 1.06 331
    2021-10-01 $420,000 (21.7%) $660,186 (18.0%) 1.11 324
    2021-11-01 $424,950 (22.3%) $1,066,615 (96.3%) 1.12 309
    2021-12-01 $429,500 (12.2%) $661,355 (7.4%) 1.15 275
    2022-01-01 $439,000 (11.1%) $710,151 (9.8%) 1.17 229
    2022-02-01 $447,450 (17.1%) $713,922 (0.7%) 1.14 242
    2022-03-01 $442,000 (14.2%) $688,142 (-5.2%) 1.09 269
    2022-04-01 $444,900 (17.9%) $662,719 (-5.6%) 1.05 321
    2022-05-01 $467,495 (24.7%) $705,928 (5.5%) 1.05 407
    2022-06-01 $464,450 (19.9%) $686,165 (6.7%) 1.03 494
    2022-07-01 $445,000 (15.5%) $612,943 (-2.9%) 0.99 613
    2022-08-01 $429,950 (7.8%) $606,423 (-3.5%) 0.99 600
    Merced's median listing price for 2022-08-01 was $429,950, a difference of $30,950 (7.8%) versus the prior year and $-15,050 versus the prior month.

    Merced's median listing price comes in at 99% of the national average.

    Merced's average listing price for 2022-08-01 was $606,423, a difference of $-22,187 (-3.5%) versus the prior year and $-6,520 versus the prior month.

    For the 2022-08-01 period, Merced had 600 MLS listings, a difference of -13 listings (-2%) versus the prior month and 313 listings (109%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Merced (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 54 days 1,787 sqft
    2018-02-01 48 days 1,779 sqft
    2018-03-01 43 days 1,756 sqft
    2018-04-01 39 days 1,716 sqft
    2018-05-01 40 days 1,747 sqft
    2018-06-01 40 days 1,790 sqft
    2018-07-01 38 days 1,810 sqft
    2018-08-01 43 days 1,763 sqft
    2018-09-01 46 days 1,766 sqft
    2018-10-01 43 days 1,775 sqft
    2018-11-01 50 days 1,730 sqft
    2018-12-01 61 days 1,730 sqft
    2019-01-01 69 days 1,739 sqft
    2019-02-01 61 days 1,776 sqft
    2019-03-01 54 days 1,810 sqft
    2019-04-01 48 days 1,871 sqft
    2019-05-01 44 days 1,896 sqft
    2019-06-01 49 days 1,896 sqft
    2019-07-01 51 days 1,960 sqft
    2019-08-01 53 days 1,904 sqft
    2019-09-01 59 days 1,855 sqft
    2019-10-01 59 days 1,839 sqft
    2019-11-01 58 days 1,829 sqft
    2019-12-01 65 days 1,768 sqft
    2020-01-01 63 days 1,735 sqft
    2020-02-01 57 days 1,810 sqft
    2020-03-01 48 days 1,834 sqft
    2020-04-01 56 days 1,836 sqft
    2020-05-01 60 days 1,854 sqft
    2020-06-01 54 days 1,879 sqft
    2020-07-01 53 days 1,847 sqft
    2020-08-01 51 days 1,878 sqft
    2020-09-01 45 days 1,820 sqft
    2020-10-01 31 days 1,743 sqft
    2020-11-01 30 days 1,740 sqft
    2020-12-01 43 days 1,834 sqft
    2021-01-01 49 days 1,815 sqft
    2021-02-01 29 days 1,706 sqft
    2021-03-01 28 days 1,698 sqft
    2021-04-01 35 days 1,625 sqft
    2021-05-01 36 days 1,680 sqft
    2021-06-01 27 days 1,693 sqft
    2021-07-01 31 days 1,685 sqft
    2021-08-01 35 days 1,718 sqft
    2021-09-01 35 days 1,724 sqft
    2021-10-01 38 days 1,713 sqft
    2021-11-01 42 days 1,592 sqft
    2021-12-01 51 days 1,601 sqft
    2022-01-01 57 days 1,560 sqft
    2022-02-01 37 days 1,557 sqft
    2022-03-01 30 days 1,627 sqft
    2022-04-01 31 days 1,644 sqft
    2022-05-01 33 days 1,761 sqft
    2022-06-01 35 days 1,781 sqft
    2022-07-01 36 days 1,716 sqft
    2022-08-01 47 days 1,702 sqft
    Merced's median listing age (time on market) for 2022-08-01 was 47 days. This is 33% longer than the same period one year ago.

    Merced's median square footage for active listings during the 2022-08-01 period was 1,702 sqft. One year prior, the average listing was 1,718 sqft.

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.